so my Q is do any of you drive with just liability coverage? or is that just to dumb to do.

 

I personally wouldn't just have liability on an evo. And you can't unless your car is paid off anyways!
But I wouldn't risk it! just my .02 cents!

 

its pretty dumb...no wait....its REALLY dumb to drive a 30k+ car with liability only. If you cant afford decent insurance, you may be out of your league

 

yeah u should get full coverage

 

its just because i got so many tickets a few years back and my insurance would be so high if i didnt get just liability

 

yeah u should get full coverage specially one head light cost about $1500

 

is your evo paid off? if you have a loan on it, you HAVE to have full coverage.

 

i havnt got it yet but ill be paying it cash so i wont get a loan

 

it is your call but remember parts are expensive

 

If you can only afford liability insurance for it, you cannot afford an Evo.

 

If you have 35k in cash laying around for an Evo then why cant you fork over the 500 or whatever a month for your insurance?

 

First of all, as you already know, if you have any kind of loan out on your car, the lender's terms require you to have have collision and comprehensive coverage. And they also spell out what minimum dollar coverage levels you must have too. If the car is destroyed or stolen, and you have no collision or comprehensive insurance coverage, you still have to keep paying the lender - plus now you have no car too.

If your car is paid off in full, and you can afford to just walk away if it gets wrecked or stolen, then go for it. But I suspect that few people on this board are in that sort of financial position. I paid cash in full for my Evo, but I certainly would not be comfortable walking away from it with a $30,000 loss if it ever got destroyed.

Even on my beater car that is worth probably only $2000, I still maintain Liability (of course, it's the law) and Comprehensive coverage. I don't have collision. So if I wreck the car, it's not covered. But if it gets stolen or vandalized or it catches on fire or if I hit a deer, I'm still covered for those kinds of losses thanks to the comprehensive part of my policy. Comprehensive policy coverage is relatively inexpensive compared to the liability or collision parts of your policy. Even if you can afford to walk away from a car you are insuring. It's probably a good financial bet to keep comprehensive coverage on the car along with the liability, and drop only the collision coverage.

 

This is a no-brainer. If you can't afford full coverage on any vehicle then you can't afford that vehicle. It doesn't matter if it is a POS or an exotic.

 

Maybe with your ticket issue, you should get a different (cheap) car until your situation improves.

That aside, the ONLY question you need to ask about only carrying liability insurance and not having any comprehensive insurance is if YOU can afford to walk away from your car, never look back, and not regret it. If the answer is not yes to these questions, you can't afford to not get comp and need to buy a POS until you can get full insurance or bite the bullet and carry comp on the Evo. Playing the odds is risky and stupid as no matter how hard you try, you could have no issues, or your car could get totalled in your driveway on day one.

I am in a similar situation for different reasons. My wife and I race cars (really race cars) and there really is no reasonable race insurance available. Whenever we buy a race car or track car, we always have to ask ourselves if we can afford to walk away from it on the next day. This keeps us grounded as while we can easily afford a C6R, Viper GTS R, GT3 Cup, or a Star Formula Mazda (all cars we really wan't to run), we can't afford to walk away from them without it wiping out our racing efforts for a couple of seasons meaning we really can't afford them. So that simple question is a great reality check and keeps us grounded and in cars that we can afford to total the day after we buy them.

I hope this helps and you make the decision that you can afford as it is that simple!

 

I would advise against it. I did it a few years back on a car that I had a loan out for, it was a stupid idea, but I was a young stupid 20 year old who was living above his means. If I would have wrecked it at any point, I would have been out about 15k and not had a car. I was nervous everyday diving it. I am glad I am smarter now I was a victim of a hit and run twice in 60 days, if I would have had liability I would be screwed. Full Coverage is the way to go if you cant afford, get a cheaper car to insure.